How do BSA/AML & Reg E Relate to Financial Institutions Using Social Media?
Recently I read an article that suggested BSA/AML and Reg E were compliance concerns to be aware of when using social media at a financial institution. This surprised me because in all my observations of financial institutions using social media, I hadn’t seen anything that would seem to relate to these regulations.
Upon further investigation, it [...]
5 Banking Regulations Affecting Social Media Compliance
Beginning with the obvious hurdles of FDIC and NCUA advertising requirements, there are many compliance concerns to keep in mind when contemplating a social media initiative at your financial institution. If you *ever* plan to post an advertisement on a social media platform, you’d be wise to add the proper advertising statement and/or symbol on [...]
Washington, We Have A Problem!
Today President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. As Cam Fine points out in his ICBA blog, Finer Points, there are some good elements in the bill for community financial institutions. However, there are some significant downsides to the 2,319 page bill. A US Chamber of Commerce study [...]
Email Policy – Free Banking Policies
Emailing requires care, unlike telephone conversations that are transmitted instantaneously and then disappear from the communications network, an email message is stored on the network and can be accessed long after it has been sent and read by the recipients. Email messages sent to others can be forwarded to third parties, printed, stored, or inadvertently routed to individuals other than the intended recipients. Email is also subject to subpoena in the event of litigation or other legal proceedings.
Finovate Video – Compliance Apps
Continuity Control’s Compliance Apps recognized as among the most helpful, interesting and promising financial technologies demonstrated at FinovateSpring2010.
Drafting a Vendor Management Policy for your Financial Institution
Community banks and credit unions need to manage the risks associated with all services outsourced to vendors with a set of procedures and controls. A strong vendor management policy sets the stage for success in this effort. With the knowledge that your IT department is not the only department utilizing the vendor management policy, it [...]
Who’s in Charge of Vendor Due Diligence?
Vendor due diligence and management are not just for your credit union or community bank’s IT department. Any outsourced activity must be covered in your vendor management policy and processes. Some examples of vendor services that your IT department really should not be managing are:
Janitorial – does your janitorial service follow proper background checking, [...]
Innovation feasible for compliance – Finovate Feedback
Andy Greenawalt and Mickey Goldwasser went to FinovateSpring2010 to demonstrate Continuity Control.
Continuity Control Selected by AlwaysOn as an OnDemand Top 100 Winner
Recognized for creating new opportunities in cloud computing and SaaS
Continuity Control Launches ComplianceTax.com with Compliance Tax Calculator for Banks and Credit Unions
Compliance solutions provider examines burden associated with continued regulatory changes
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